Guidelines for central government debt management in 2024
Today, the Government adopted guidelines for the Swedish National Debt Office’s central government debt management. The guideline decision for 2024 does not entail any steering changes compared with the previous year.
The central government debt will continue to be managed based on the following targets:
- inflation-linked krona debt constituting 20 per cent of the national debt in the long term;
- phasing out national debt foreign currency exposure, with a target value of zero from 1 January 2027;
- nominal krona debt constituting the remainder of national debt; and
- 3.5 to 6 years’ maturity (in terms of duration) of the national debt.
The objective of national debt policy is to manage central government debt so as to minimise long-term costs, while taking into account the risk associated with its management. The debt is to be managed within the framework of monetary policy requirements.
The Government and the Swedish National Debt Office share responsibility for achieving this objective. The Government determines the overall risk level in annual guideline decisions, while the Swedish National Debt Office is responsible for ensuring that borrowing and management remain within the framework of the guideline decisions and in line with the objective. The annual guideline decisions are based in part on the guidelines proposed by the Swedish National Debt Office.
A progress report is presented to the Riksdag every two years in the form of a written communication. The last report was presented to the Riksdag on 21 April 2023.